Fannie Mae Reminds Homeowners, Renters, and Mortgage Servicers of Disaster Relief Options for Those Affected by the Southern California Wildfires

WASHINGTON, Jan. 13, 2025 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) is reminding homeowners and renters impacted by natural disasters, including those affected by the ongoing wildfires in Southern California, of available mortgage assistance and disaster relief options. Mortgage servicers also are reminded of options to assist homeowners under Fannie Mae's guidelines during these circumstances.

"We are monitoring the Southern California wildfires, and we urge those in the path of the fires to focus on their safety," said Cyndi Danko, Senior Vice President and Chief Credit Officer, Single-Family, Fannie Mae. "We are committed to supporting homeowners, renters, and communities in need during this challenging time. If homeowners have been impacted by the fires, we encourage them to call their mortgage servicer for assistance as soon as possible. Homeowners and renters can learn more about disaster relief resources, including personalized support, by contacting Fannie Mae's free disaster recovery counseling services."

Homeowners and renters should call 855-HERE2HELP (855-437-3243) to access Fannie Mae's disaster recovery counseling* or visit the Fannie Mae website for more information.

Under Fannie Mae's guidelines for single-family mortgages impacted by a disaster:

• Homeowners may request mortgage assistance by contacting their mortgage servicer (the company listed on their mortgage statement) following a disaster.
• Homeowners affected by a disaster are often eligible to reduce or suspend their mortgage payments for up to 12 months by entering a forbearance plan with their mortgage servicer. During this temporary reduction or pause in payments, homeowners will not incur late fees and foreclosure and other legal proceedings are suspended.
• In instances where contact with the homeowner has not been established, mortgage servicers are authorized to offer a forbearance plan for up to 90 days if the servicer believes the home was affected by a disaster.
• Following a forbearance plan, there are a number of options available to potentially help homeowners resolve the delinquency without paying a lump sum, including Disaster Payment Deferral and Fannie Mae Flex Modification.

Homeowners and renters looking for disaster recovery resources may visit the Fannie Mae website to learn more about addressing immediate needs. Fannie Mae also offers help navigating the broader financial effects of a disaster to homeowners and renters through disaster recovery counseling at 855-HERE2HELP (855-437-3243).* Assistance is provided free of charge by U.S. Department of Housing and Urban Development-approved housing counselors who are trained disaster-recovery experts that provide:

• A needs assessment and personalized recovery plan.
• Help requesting financial relief from the Federal Emergency Management Agency, insurance, and other sources.
• Web resources and ongoing guidance for up to 18 months.
• Services available in multiple languages.

*Operated by Money Management International (MMI)

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SOURCE Fannie Mae